Radnor Capital Management LLC Cuts Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Radnor Capital Management LLC lessened its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 15.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,106 shares of the business services provider’s stock after selling 1,970 shares during the quarter. Radnor Capital Management LLC’s holdings in Automatic Data Processing were worth $3,251,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Accredited Investors Inc. raised its holdings in shares of Automatic Data Processing by 4,431.5% during the 3rd quarter. Accredited Investors Inc. now owns 2,315,295 shares of the business services provider’s stock worth $640,712,000 after acquiring an additional 2,264,202 shares in the last quarter. International Assets Investment Management LLC lifted its position in Automatic Data Processing by 28,478.6% during the third quarter. International Assets Investment Management LLC now owns 1,194,587 shares of the business services provider’s stock valued at $3,305,780,000 after purchasing an additional 1,190,407 shares during the last quarter. Holocene Advisors LP bought a new position in Automatic Data Processing during the third quarter valued at $160,920,000. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Automatic Data Processing by 332.3% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 623,341 shares of the business services provider’s stock worth $172,497,000 after buying an additional 479,145 shares during the last quarter. Finally, Mackenzie Financial Corp increased its holdings in shares of Automatic Data Processing by 242.4% in the 2nd quarter. Mackenzie Financial Corp now owns 644,135 shares of the business services provider’s stock worth $153,749,000 after buying an additional 456,027 shares during the last quarter. Institutional investors own 80.03% of the company’s stock.

Insider Transactions at Automatic Data Processing

In related news, VP Sreenivasa Kutam sold 38,975 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total value of $11,692,500.00. Following the completion of the sale, the vice president now directly owns 32,604 shares in the company, valued at approximately $9,781,200. This represents a 54.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Maria Black sold 721 shares of Automatic Data Processing stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $291.59, for a total value of $210,236.39. Following the sale, the chief executive officer now directly owns 68,856 shares in the company, valued at approximately $20,077,721.04. The trade was a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,129 shares of company stock worth $12,604,872 over the last ninety days. 0.21% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Royal Bank of Canada lifted their price target on Automatic Data Processing from $267.00 to $315.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 31st. TD Cowen boosted their target price on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research report on Friday, November 1st. UBS Group raised their price target on Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Jefferies Financial Group lifted their price objective on shares of Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Finally, StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Saturday. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $289.91.

Automatic Data Processing Stock Performance

NASDAQ ADP opened at $291.69 on Wednesday. The stock has a market capitalization of $118.85 billion, a price-to-earnings ratio of 31.13, a PEG ratio of 3.50 and a beta of 0.79. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $309.63. The stock has a 50-day moving average of $298.48 and a 200 day moving average of $279.35. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.12. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The business had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.77 billion. During the same period in the prior year, the business earned $2.08 earnings per share. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. Sell-side analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 1st. Investors of record on Friday, December 13th were given a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a yield of 2.11%. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $1.40. The ex-dividend date was Friday, December 13th. Automatic Data Processing’s dividend payout ratio (DPR) is 65.74%.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates in two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.